Avinash Kurungot
Avinash Kurungot is a B.B.A. LL.B (Hons.) Graduate from Christ University, Bangalore. Following a stint in Civil Litigation, marking appearances across the High Court of Kerala and various sub-courts, he has channelled his skills towards developing engaging tax, finance and news content.
CIT(A) Notices unserved, issued during Covid: ITAT remands Capital Gains Exemption Claim
The Income Tax Appellate Tribunal ( ITAT ), Bangalore recently remanded a case pertaining to capital gains exemption claims observing that the...
![Objections from Assessment Audit of Exim Goods u/s 99A of Customs Act to be notified to Assessee: Delhi HC directs Refund [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Delhi-High-Court-Assessment-Audit-Delhi-HC-Directs-Refund-taxscan.jpg "Objections from Assessment Audit of Exim Goods u/s 99A of Customs Act to be notified to Assessee: Delhi HC directs Refund [Read Order]")
![Interest Income received from Co-Op Society/Banks entitled to Deduction u/s 80P(2)(d): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Interest-Income-Deduction-Bank-Interest-Deduction-Section-80P-Income-Tax-Deduction-taxscan.jpg "Interest Income received from Co-Op Society/Banks entitled to Deduction u/s 80P(2)(d): ITAT [Read Order]")
Relief to Toyota: ITAT upholds quashing of Separate Benchmarking of Royalty after Margin accepted to be at ALP [Read Order]
The Income Tax Appellate Tribunal, Bangalore recently granted relief to Toyota, upholding the order of a Transfer Pricing Officer ( TPO ) in which the royalty was separately benchmarked after the...
![Relief to Toyota: ITAT upholds quashing of Separate Benchmarking of Royalty after Margin accepted to be at ALP [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Relief-to-Toyota-ITAT-Separate-Benchmarking-Royalty-Margin-ALP-taxscan.jpg "Relief to Toyota: ITAT upholds quashing of Separate Benchmarking of Royalty after Margin accepted to be at ALP [Read Order]")
Relief to Revenue: Delhi HC Affirms AO’s Reassessment u/s 147 on basis of Third-Party search Findings [Read Order]
The Delhi High Court recently remitted matter back to the file of the Income Tax Appellate Tribunal (ITAT) observing that a jurisdictional Assessing Officer (AO) may initiate reassessment...
![Relief to Revenue: Delhi HC Affirms AO’s Reassessment u/s 147 on basis of Third-Party search Findings [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Relief-to-Revenue-Delhi-HC-Affirms-basis-of-Third-Party-Third-Party-search-Findings-AOs-Reassessment-search-Findings-Affirms-AOs-Reassessment-taxscan.jpg "Relief to Revenue: Delhi HC Affirms AO’s Reassessment u/s 147 on basis of Third-Party search Findings [Read Order]")
ITAT overturns ₹1.2 Crore Income Tax Additions from Penny Stock Sale, vitiates Presumption of ‘Human Probabilities’ [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) recently deleted additions of Rs. 1.2 crore made by an Assessing Officer (AO) on the basis of alleged ‘human probabilities’ that the...
![ITAT overturns ₹1.2 Crore Income Tax Additions from Penny Stock Sale, vitiates Presumption of ‘Human Probabilities’ [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-INCOME-TAX-Income-Tax-Additions-Penny-Stock-Sale-Stock-Sale-vitiates-Presumption-of-Human-Probabilities-Human-Probabilities.jpg "ITAT overturns ₹1.2 Crore Income Tax Additions from Penny Stock Sale, vitiates Presumption of ‘Human Probabilities’ [Read Order]")
ITAT caps S.14A Disallowance at 1% of Dividend Income for Period prior to Rule 8D, Income Tax Rules [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) recently directed an Assessing Officer ( AO ) to disallow 1% of dividend income as expenditure under Section 14A of the Income Tax Act,...
![ITAT caps S.14A Disallowance at 1% of Dividend Income for Period prior to Rule 8D, Income Tax Rules [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Income-Tax-ITAT-ITAT-Delhi-Income-Tax-Appellate-Tribunal-Dividend-Income-TAXSCAN-2.jpg "ITAT caps S.14A Disallowance at 1% of Dividend Income for Period prior to Rule 8D, Income Tax Rules [Read Order]")